Newmont Declares Commercial Production At Twin Creeks Project
Newmont Mining Corp.(NYSE: NEM) says it has achieved commercial production at its Twin Creeksunderground expansion project in Nevada. The Twin Creeks underground mine willadd between 30,000 and 40,000 ounces of gold production per year at all-insustaining costs of between $650 and $750 per ounce for its first fiveyears of production, Newmont says. The new ore will also allow Newmont toprocess stockpiled ore that had previously been classified as waste, and extendprocessing life to 2030, the company adds. The project was completed onschedule for $42 million, just below guidance of between $45 and $55 million.“The expansion extends profitable production and improves recoveries at TwinCreeks, and serves as a platform to further explore the deposit, which remainsopen along strike and at depth,” says Gary Goldberg, president and chiefexecutive officer. The underground mine is mechanized, featuring remotelyoperated loaders to improve safety and efficiency, Newmont adds. Twinunderground ore will also be blended with ore from Turquoise Ridge. In early2018, Newmont and Barrick Gold Corp. approved the Turquoise Ridge Mineoptimization project, which involves sinking a production shaft to access therichest part of the deposit.
By Allen Sykoraof Kitco News; asykora@kitco.com
Sandstorm Gold Sales 14,450 Gold-Equivalent Ounces
Tuesday July 03, 2018 10:06
Royalty company Sandstorm Gold Ltd. (NYSEAmerican: SAND, TSX: SSL) reports the sale of approximately 14,450gold-equivalent ounces duringthe second quarter. Approximately 85% of the ounces came from operations run bymajor and mid-tier mining companies. The company listed 14,685 ounces sold inits first-quarter earnings report. Sandstorm has a portfolio of 188 royalties,of which 21 of the underlying mines are producing.
By Allen SykoraFor Kitco News
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